RCom inks deal with Brookfield to sell nationwide tower assets

Reliance Communications (RCOM) Friday inked a non-binding Term Sheet with Brookfield Infrastructure Group to sell its nationwide tower assets and related infrastructure. As per the agreement, the telco will receive an upfront cash payment of Rs 11,000 crore from the proposed transaction, involving 45,000 mobile towers. RCom said that it intends to utilize the proceeds of the proposed transaction solely to reduce its debt. RCom will also enjoy 49% future […]